HELOC rates in Nevada rose from around 4.5% in 2020 to 9.6% by late 2023, slightly decreasing to 9.1% in November 2024. If this trend continues, homeowners may face higher borrowing costs, so consider locking in a rate soon.
HELOC
Best HELOC Rates in Nevada (December 2024)
Updated: December 9, 2024
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Key Takeaways
Higher loan-to-value (LTV) ratios lead to higher rates. The average APR for a HELOC in Nevada with an 80% LTV is 8.5%, compared with 9.4% for a 90% LTV.
HELOC rates vary by city in Nevada. Fallon has an average APR of 8.3%, whereas Pahrump's is 9.5%.
Different lenders offer varying rates for the same loan types. 1st United Credit Union's average APR is 6.0%, whereas Bank of America's is 10.6%.
Current HELOC Rates in Nevada
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HELOC Rates in Nevada by LTV Ratio
HELOC rates in Nevada depend on your loan-to-value (LTV) ratio and line limit. A lower LTV indicates more equity, reducing lender risk. For instance, with a 75% LTV, you've borrowed less against your home's value, minimizing the chance to default on your HELOC.
The table below lets you filter between different loan amounts, giving you a clearer view of your potential qualifications.
Data filtered by:Results filtered by:
Line Limit:
Line Limit:$100,000
| 8.6% | 9.6% |
HELOC Rates in Nevada by City
HELOC rates in Nevada differ by city due to local housing markets and lender competition. For instance, a city with a stable real estate market might offer lower rates, reducing lender risk.
Use the table below to filter by your city and see average APRs for $50K and $100K HELOCs.
Data filtered by:Results filtered by:
City:
City:Las Vegas
| $100,000 | 8.7% |
| $50,000 | 8.8% |
HELOC Rates in Nevada by Lender
HELOC interest rates in Nevada vary due to different pricing strategies and risk assessments among lenders in Nevada. The table below highlights the five lenders offering the lowest average APRs, enabling you to compare competitive rates.
| 1st United Credit Union | 6.0% |
| Plus Credit Union | 7.8% |
| Western Alliance Bank | 7.8% |
| Clark County Credit Union | 8.0% |
| Operating Engineers Local Union #3 Federal Credit Union | 8.0% |
HELOC rates today can differ between lenders within the same city. Use the table below to filter data by city and compare APRs, helping you find the best rate for your needs.
Data filtered by:Results filtered by:
City:
City:Las Vegas
| Plus Credit Union | Credit Union | 7.8% |
| Western Alliance Bank | Commercial Bank | 7.8% |
| Operating Engineers Local Union #3 Federal Credit Union | Credit Union | 8.0% |
| Clark County Credit Union | Credit Union | 8.0% |
| Rize Federal Credit Union | Credit Union | 8.0% |
| Silver State Schools Credit Union | Credit Union | 8.0% |
| Valley Bank of Nevada | Commercial Bank | 8.0% |
| Mountain America Federal Credit Union | Credit Union | 8.5% |
| WestStar Credit Union | Credit Union | 8.5% |
| Aloha Pacific Federal Credit Union | Credit Union | 8.5% |
| Zions Bancorporation | Commercial Bank | 8.5% |
| InTouch Credit Union | Credit Union | 8.5% |
| BMO BANK NATIONAL ASSOCIATION | Commercial Bank | 8.9% |
| Navy Federal Credit Union | Credit Union | 9.1% |
| America First Federal Credit Union | Credit Union | 9.2% |
| City National Bank | Commercial Bank | 9.3% |
| UNIFY Financial Federal Credit Union | Credit Union | 9.4% |
| U.S. Bank National Association | Commercial Bank | 9.5% |
| Meadows Bank | Commercial Bank | 10.5% |
| Bank of America | Commercial Bank | 10.6% |
COMPARING HELOC RATES IN NEVADA: BANKS VS. CREDIT UNIONS
HELOC rates in Nevada vary between banks and credit unions, with banks usually offering higher rates. Currently, the best HELOC rate in Nevada for commercial banks is 9.2%, whereas credit unions, which are not-for-profit institutions, offer an average APR of 8.5%. Understanding these differences can help you make an informed decision about where to apply for a HELOC.
When choosing between the two, consider more than just rates. Banks may offer more convenience, while credit unions often provide better customer service and lower fees. Also, check membership requirements for credit unions and be aware of any hidden fees or rate adjustment clauses with both lenders.
Ask the experts:
How do HELOC rates compare to other borrowing options like personal loans or home equity loans, and when should a homeowner choose a HELOC over these alternatives?
Credit & Mortgage Expert
Typically, a HELOC will have a lower interest rate than a personal loan from a bank or credit union. However, HELOCs often have a variable rate, so they can go up or down depending on the current Federal Funds rate. Home equity loans are a fixed rate, so when the Fed increases rates or they remain the same, that is a good time to get a home equity loan.
Personal loans are a solid option despite their higher rates because they are unsecured, meaning there is no collateral (like your home). If you come on hard times and can’t repay a personal loan, you are not at risk of losing your home like you are with a HELOC or home equity loan.
HELOC Payment Calculator
HELOCs have become a popular tool for homeowners across the U.S. looking to tap into their home's equity. Use our Nevada HELOC payment calculator to determine your monthly payments based on amount draws, loan terms, and APR. The calculator provides an amortization schedule and shows the division between principal and interest over time. This helps you manage your HELOC effectively and plan your finances better.
Nevada HELOC Payoff Calculator
This HELOC payment calculator assumes that you take out one lump sum at the start of your interest-only period. Your actual payoff schedule will vary depending on your interest rate and market conditions.
Credit Line Information
Draw Period Payment
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Repayment Period Payment
$0
- Graph view
- Table view
- Amortization
Credit Payoff Schedule for Home Equity Line
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Ending balance
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How to Get the Best HELOC Rates in Nevada
Finding the best HELOC rates in Nevada can help you save significantly over the life of your loan. For example, securing a lower rate can reduce monthly payments, freeing up funds for other expenses. Consider these five strategies to secure the most competitive rate:
Maintain a strong credit score
The average credit score in Nevada is 702. Improving it can help secure better rates from lenders.
Compare offers from multiple lenders
Shopping around can reveal competitive rates and provide leverage to negotiate better terms.
Reduce your debt-to-income (DTI) ratio
Lower debt-to-income (DTI) ratios show stability. Paying off debt can improve your chances for a lower rate.
Increase your home equity
More equity means less risk for lenders. Paying down your mortgage or making home improvements can help.
Review closing costs and rate caps
Closing costs affect expenses. Understanding rate caps helps manage costs as rates change.
HELOC Loan Rates vs. Home Equity Loan Rates in Nevada
HELOC interest rates in Nevada are higher than home equity loan rates, averaging 8.7% compared to 8.2%. This difference stems from the variable rate structure of HELOCs versus the fixed rates of home equity loans.
- HELOCs are revolving credit lines with variable interest rates that can rise in rising interest rate environments, potentially increasing costs for homeowners over time.
- In contrast, home equity loans provide a lump sum at a fixed rate, offering stability and predictability, which can be beneficial in situations requiring a set repayment plan.
When deciding between these options, consider whether you value the flexibility of accessing funds as needed with a HELOC or the certainty of fixed payments with a home equity loan. Assess your financial goals and risk tolerance to make the best choice for leveraging your home's equity.
CONSIDERING A HELOC ALTERNATIVE? TRY A CASH-OUT REFINANCE
Cash-out refinance is a HELOC alternative that replaces your existing mortgage with a new, larger loan, providing access to cash. Unlike HELOCs or home equity loans, it creates a new primary mortgage.
For instance, if you have a loan backed by the Federal Housing Administration (FHA) and your home is valued at $300,000 with a $150,000 mortgage balance, an FHA cash-out refinance for $200,000 could give you $50,000 in cash, but your new loan payments will be based on $200,000.
FAQ: Best HELOC Rates in Nevada
What are the current HELOC rates in Nevada and how do they compare to national rates?
The average HELOC rate in Nevada is 8.7%, which is slightly higher than the national average of 8.4%.
What fees are commonly associated with HELOCs in Nevada?
Common fees include application fees, appraisal fees, annual fees, and early closure fees, but specifics vary by lender.
How do HELOC rates in Nevada compare to home equity loan rates?
Nevada's HELOC rates average 8.7%, while home equity loan rates are lower at 8.2%, which can be beneficial for those with bad credit.
How do HELOC Rates in Nevada vary between banks and credit unions?
Commercial banks in Nevada offer HELOC rates averaging 9.2%, while credit unions offer lower rates at 8.5%.
What's the best HELOC rate in Las Vegas? How does it compare to the current HELOC rate in Nevada?
The average HELOC rate in Nevada is 8.7%, while Las Vegas's rates are the same, averaging 8.7%.
MoneyGeek examined 28 different banks and credit unions in Nevada using S&P Global's SNL Depository Rates dataset to stay current on the latest home equity line of credit rates.
This data is accurate as of December 06, 2024.
28Lenders Analyzed
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.